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What are the consequences of overdue online loans?
The consequences of overdue online loans are as follows:
1. If the lending institution or bank fails to fulfill the court judgment within the performance period after winning the lawsuit in court, it will apply to the court for enforcement.
2. When accepting compulsory execution, the court will inquire about the properties, vehicles, securities and deposits in the name of the lender in accordance with the law.
3. If the lender has no property available for enforcement and refuses to fulfill the court’s effective judgment, negative information such as overdue repayment will be recorded in the personal credit report and high consumption and entry and exit will be restricted. , and may even be subject to judicial detention.
Online lending includes individual online lending (i.e. P2P online lending) and online small loans.
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